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A welding/work bench, grinder or cut off saw stand are good things to start with. As you gain experience you can make a press, engine hoist or a power hacksaw, there's lots of things you can make, things you may use for the rest of your life.
If you want to make items to sell you need to come up with something people want, that's not already on the market at price well below what you can make it for. I've not as yet
found that item

if you are just starting out welding, on a internet fourm asking for welding ideas you dont need to be trying to weld up a three point hitch, but im sure you think your a hot shot enough to still to it anyways, I just hope I am NEVER behind you on the highway.

Now as far as projects go, OPEN your eyes and look around, Im sure you go to wal mart, and places like that. see something you like and work on making it, make a small table, a lamp, it doesnt matter, **** look at this web site in the projects page, thats what its there for. Just practice your welding skills before you try selling anything.

I really dont think ya gota worry bout being behind him on the highway behind a 3 POINT HITCH!